25 Apr 2014 07:54
JSC Russian Grids
Appointments at JSC IDGC of North-West
25 April 2014. Moscow, Russia - JSC Russian Grids (LSE: RSTI) (the "Company"), the largest electricity transmission and distribution grid company in Russia, today announces that Alexander Letyagin has been appointed Acting Director General of JSC IDGC of North-West, a subsidiary of the Company, following a meeting of the Board of Directors of JSC IDGC of North-West held on 24 April 2014. The appointment becomes effective today, 25 April 2014.
The Board of Directors has also appointed Sergey Titov, who was previously Director General of JSC IDGC of North-West, as Chairman of the Board of Directors of JSC IDGC of North-West, effective 25 April 2014.
Alexander Letyagin has extensive experience in the industry, having held a number of senior positions. Prior to this appointment, he was Acting First Deputy Director General of JSC IDGC of North-West, a position he has held since February 2014. From 2012 to February 2014, Alexander Letyagin was Adviser to General Director and director of JSC Lenenergo's Vyborgskiye Power Grid Branch. Prior to this he was Deputy Director General - director of Orelenergo, a branch of JSC IDGC of Centre.
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For further information:
JSC Russian Grids
Maria Stepanova, Head of IR +7(495) 995 5333 (ext. 3961)
Yulia Martynova, IR +7 (495) 995 5333 (ext. 3834)
FTI Consulting
Larisa Millings +44 (0)20 3727 1364
Maria Shiryaevskaya +7 (495) 795 0623
Olga Lundquist +7(495) 795 0623
JSC Russian Grids is the largest electricity transmission and distribution grid company in Russia. It is also one of the largest electricity transmission and distribution grid companies in the world by length of electricity lines and installed transformer capacity. JSC Russian Grids holds interests in and manages 15 distribution grid companies and Federal Grid Company in Russia. The Company together with its subsidiaries owns and operates 2.25 million kilometers of electricity transmission and distribution lines with a total installed transformer capacity of 743 GVA. The Company operates in 74 regions of Russia covering the area of 13.6m sq. km.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of JSC Russian Grids. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industry, as well as many other risks specifically related to JSC Russian Grids and its operations.